Trading bourse SGX has picked up a 20% stake in foreign exchange trading platform BidFX, with the pair entering an alliance to support SGX trades using BidFX’s software.
BidFX, the UK-based foreign exchange subsidiary of US-headquartered market trading software provider TradingScreen, has received $25m in funding from trading bourse operator Singapore Exchange (SGX), in return for a 20% stake.
SGX supplied the capital through its Asian Gateway Investments subsidiary. BidFX, which had not previously raised equity funding, had a book value of £2m ($2.6m) at the end of 2018, it said.
Founded in 2017, BidFX operates an electronic trading system for foreign exchange (FX) products that enables clients…
